MG offers a range of estimating services. MG estimates are tailored to the client’s needs and can range from a summarized list to a comprehensive report to support the client’s application for project funding. We have experience producing Capital Cost Estimates, Operating Cost Estimates, and Return on Investment (ROI) Calculations.
We have an estimating process that addresses all phases of a project lifecycle including:
Order of Magnitude Estimate
Accuracy of the estimate will normally be in the range of ±30 to 40%. This level of estimate investigates, at relatively low cost to the client, the feasibility of a project. More specifically, whether it is worth spending additional money for more detailed technical, process, and economic study.
Accuracy of the estimate will normally be in the range of ±20 to 25%. This level of estimate investigates the process, equipment, and construction of a project in order to provide the client with a more detailed project cost estimate.
Appropriation or Feasibility Estimate
Accuracy of the estimate will normally be in a range of ±10 to 15%. Costs outlined in this estimate can be used to project cash flow requirements, determine financing for the project and determine the final decision to implement the project.
Accuracy of the estimate will normally be in the range of ±5 to 10%. This level of estimate is prepared after the decision has been made to complete a project, detailed engineering is well advanced at this stage. Costs included in definitive estimates will include actual equipment costs and construction costs from the purchase orders and contracts awarded or tendered.